Luxembourg-based fintech company Fundcraft, specialising in fund administration and management solutions, has raised €6 million in Series A funding to further develop its digital platform for streamlined fund operations.
This latest investment round, led by 3VC and MiddleGame Ventures, adds to the €5 million secured in May 2024 from Aperture Capital and SIX Fintech Ventures, bringing the total Series A funding to €11 million. With this new capital, Fundcraft aims to enhance its digital fund operations platform and expand its footprint across Europe.
Accelerating growth and innovation
Since its first Series A close, fundcraft has rapidly scaled, with a 60% increase in managed funds, now representing over €8.1 billion in commitments. The company’s innovative approach streamlines fund administration by combining advanced technology with expert services, offering a powerful alternative to traditional, manual fund operations.
Julien De Mayer, fundcraft’s CEO and Founder, remarked, “This additional investment builds on our strong momentum as we continue to deliver on our mission to digitise and transform fund operations for alternative asset managers. Together with co-founders Olga Porro and Victor Martin, we see a unique opportunity to accelerate our expansion, delivering solutions that no other competitor can currently match. The support and endorsement from 3VC and MiddleGame Ventures enable us to scale faster and seize this market opportunity with confidence.”
How will the investment be used?
The additional capital will support several key initiatives, including product development, geographic expansion, and talent acquisition. Fundcraft will continue enhancing its digital fund operations platform, focusing on automation, operational efficiency, and transparency to meet the needs of mid-market private equity funds and other alternative investment managers requiring complex, integrated digital solutions.
As demand for digital fund operations rises across alternative investment markets, fundcraft plans to strengthen its European footprint, targeting clients beyond its Luxembourg base. In terms of talent acquisition, fundcraft is actively building its teams across fund operations, product development, and business development, including the recent hire of Craig Perrin as Chief Revenue Officer, whose extensive background in securities services and scaling fintech companies will support fundcraft’s rapid expansion across Europe and other international markets.
Revolutionising alternative investment industry
Founded in 2020 by Julien De Mayer, Olga Porro, and Victor Martin, the company was established to modernise fund administration through technology, making the fund management process more efficient, transparent, and accessible, especially for alternative asset classes like private equity, venture capital, and real estate. The founders brought significant expertise in finance and technology, which has been instrumental in fundcraft’s mission to streamline fund operations in Luxembourg’s highly regulated and globally influential financial ecosystem.
Fundcraft’s platform offers services such as investor reporting, compliance management, capital calls, and fund accounting, which are traditionally manual and time-consuming. By leveraging technology, the platform aims to reduce administrative burdens and improve transparency for both fund managers and investors. Since Luxembourg is one of the world’s leading hubs for asset management and alternative investments, fundcraft’s positioning in the region allows it to cater to a global clientele with a strong focus on European regulatory standards.
The company aims to be at the forefront of digital transformation in the fund industry, emphasising agility, compliance, and client-centric innovation in fund operations.
Eva Arh, Partner at 3VC, highlighted fundcraft’s value in the market, “fundcraft’s product and vision position them as a standout leader in digital fund operations. In a market where fund managers often struggle with cumbersome and inefficient fund admin processes – relying on manual tasks, back-and-forth emails, and Excel sheets – fundcraft brings a proven solution to established firms looking to launch new funds or migrate existing ones on a digital platform. This aligns perfectly with our thesis of investing in category-defining products, and we’re proud to support fundcraft as they scale rapidly across Europe, reshaping operations for the next generation of alternative asset managers.”
Pascal Bouvier, Managing Partner at MiddleGame Ventures, echoed these sentiments, adding, “As a strategic investor and a client of fundcraft, we see firsthand how their digital fund operations suite streamlines fund administration. Our investment underscores our confidence in fundcraft’s ability to set new standards in efficiency and transparency within the industry.”
As the demand for streamlined, technology-driven solutions in the financial sector grows, Fundcraft’s progress signals a shift toward more efficient, transparent, and scalable fund management solutions. The question now is: how will Fundcraft’s success influence the future of fund operations across the continent, and will other players follow suit in driving this technological evolution? Only time will tell.